Inox Wind gets 550 MW wind capacity execution order

18 Sep 2024 , 12:43 PM

The wind energy solutions provider told the exchanges that it has received a Letter of Intent (LoI) from IGREL Renewables Ltd. (IGREL) to execute 550 MW of wind capacity on a turnkey basis.

As part of the project, Inox Wind will provide, install, and commission the Wind Turbine Generators (WTGs), as well as provide multi-year complete operations and maintenance (O&M) services after commissioning.

The project will be performed over the following 24 months at different sites in the states of Gujarat, Rajasthan, and Madhya Pradesh.

The 550 MW LoI is in addition to the company’s prior order of 200 MW, bringing Inox Wind’s order book to more than 3.5GW.

This is yet another milestone for Inox Wind, putting our company on a solid platform to meet our 2 GW annual execution goal, which we hope to achieve in FY27 with our big orderbook. With healthy industry tailwinds and IWL’s excellent posture, we are well-positioned to capitalise on the sector’s significant opportunities over the next decade, said Kailash Tarachandani, Group CEO of Inox Wind.

At around 11.40 AM, Inox Wind was trading 3.37% higher at ₹252.88, against the previous close of ₹244.64 on NSE. The counter touched an intraday high and low of ₹253.10, and ₹241.95, respectively.

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